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FX-50 Great Scalping System

  • #1,681
  • Mar 8, 2009 10:32am Mar 8, 2009 10:32am
All I can say is that John has given you the best roadmap to success I have ever seen. It is indeed like nothing I have ever seen before. The best way to trade is when the 1M is leading all the other ribbons and trading into the black abyss on your chart. 20 pips should be easy with practice.

It also sounds like you are playing with scared money. Lower your risk until you are not afraid to take a 10 pop loss, then you can relax when in your trade and be able to react with good judgement.

Damon

Quoting billye
Hi damonl,

thank you for the sharing. I see your point that most of the case market move is like 10 pips or more.

I think I'm in a contradicting situation right now.
When I aim at making 10pips or more and use a loose stop/loss, sometimes market stop at +8pips and reverse, cause me a loss.
So I have to tighten s/l to -5 pips or...
"Keep your eyes on the helpers" - Mr. Rogers
  • #1,682
  • Edited 10:31pm Mar 8, 2009 10:44am | Edited 10:31pm
thanks damon what I had right now was the fx50 indicators in the original post of this thread.

I will try john's addition tomorrow

you're right I will think about lower leverage a little bit until I practice scalping to a comfortable level.

thanks for all the kind advice.
  • #1,683
  • Mar 8, 2009 5:26pm Mar 8, 2009 5:26pm
Quoting billye

you're right I will think about lower leverage a little bit until I practice scalping to a comfortable level.
Hi billie, from your original question re: 1pip profit taking it's clear you are quite new to trading. Before anyone trades with real money they should test their system FIRST. This will prevent the big losses you fear. Simple isn't it! Onced you know the system works THEN you should trade live.

You should start at the bottom and work your way up, there are no shortcuts. Go to Babypips.com and start reading the 'school' section. It should take you a few months to take it all in.

good luck,
steve

Also billie this is the fx-50 thread and questions should be about fx-50 only!!!
  • #1,684
  • Mar 8, 2009 5:51pm Mar 8, 2009 5:51pm
hi, how can i put indicators on the back and candles on the front?
Attached Image
  • #1,685
  • Mar 8, 2009 7:00pm Mar 8, 2009 7:00pm
Quoting pattinatore
hi, how can i put indicators on the back and candles on the front?
Well right click in the middle of the Chart Window / Properties / Common and select Chart on Foreground

Thats all
Don't forget Practice + Patience + Persistence = Profits
  • #1,686
  • Mar 8, 2009 7:06pm Mar 8, 2009 7:06pm
Quoting maxzeus
Well right click in the middle of the Chart Window / Properties / Common and select Chart on Foreground

Thats all
really thx friend
  • #1,687
  • Mar 8, 2009 7:10pm Mar 8, 2009 7:10pm
Quoting billye
thanks damon what I had right now was the fx50 indicators in the original post of this thread.

I will try john's addition tomorrow

I am using leverage position size=10x acc size right now,
and last time when I was new to forex in a week, I had position size=40x acc size, not knowing what it means and blew it when GBP move from 1.43->1.49 early Feb... I was using stock buy-and-hold strategy blindly that time. that may develop a fear in me of leveraged loss.

you're right I will think about lower leverage a little bit until I practice scalping...
Well its better to test in demo before goiing live or instead of DEMO you can use micro accounts with minimum 1$ deposits and penny profits per pips

i try to make approx 7-12 pips per trade and if its showing promise for more i stay in and move my SL per10 pips move and when i close i re-enter on a bounce, over and over again...
Don't forget Practice + Patience + Persistence = Profits
  • #1,688
  • Mar 8, 2009 11:15pm Mar 8, 2009 11:15pm
thanks steve and maxzeus, I'm doing something like you're suggesting. hope I found this advise earlier when I entered market as newbie with real money.

yeah, let's stay on fx50 indicator topic ^_^

Quoting maxzeus
Well its better to test in demo before goiing live or instead of DEMO you can use micro accounts with minimum 1$ deposits and penny profits per pips

i try to make approx 7-12 pips per trade and if its showing promise for more i stay in and move my SL per10 pips move and when i close i re-enter on a bounce, over and over again...
  • #1,689
  • Mar 8, 2009 11:26pm Mar 8, 2009 11:26pm
Open black means that there is nothing in the way to stop price from moving. Here are some great examples on the same screen shot.

Enjoy

Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 32 KB
"Keep your eyes on the helpers" - Mr. Rogers
  • #1,690
  • Mar 9, 2009 3:41am Mar 9, 2009 3:41am
please post eurusd chart with je ribbons today, so we can see the moves in london and ny.
  • #1,691
  • Mar 9, 2009 3:43am Mar 9, 2009 3:43am
Just another exemple because I like this setup, thanks to J.E.
It's from the last hour, two nice trades.
Note: it's not a forex chart, but this is what I'm trading.
Attached Image (click to enlarge)
Click to Enlarge Name: ff.gif Size: 54 KB
Trading S/R with PA only. No indicators anymore!
  • #1,692
  • Mar 9, 2009 3:47am Mar 9, 2009 3:47am
Quoting blanca
please post eurusd chart with je ribbons today, so we can see the moves in london and ny.
I don't see a nice trade setup right now.
Attached Image (click to enlarge)
Click to Enlarge Name: ff.gif Size: 49 KB
Trading S/R with PA only. No indicators anymore!
  • #1,693
  • Mar 9, 2009 3:59am Mar 9, 2009 3:59am
another little profitable trade,
exit because of double bottom risk and pivot lines.
Attached Image (click to enlarge)
Click to Enlarge Name: ff.gif Size: 56 KB
Trading S/R with PA only. No indicators anymore!
  • #1,694
  • Mar 9, 2009 4:11am Mar 9, 2009 4:11am
It seems right now eurusd is having a short signal, but could you please confirm , the stoch has to agree in entry exactly or just under -100 level?

also entry agrees with pivot, would you have taken it?
  • #1,695
  • Mar 9, 2009 4:12am Mar 9, 2009 4:12am
just want to show you how nice JE setup is.
The ribbons and pivotlines and fibo lines are so important.

My exit was too early.
Attached Image (click to enlarge)
Click to Enlarge Name: ff.gif Size: 56 KB
Trading S/R with PA only. No indicators anymore!
  • #1,696
  • Mar 9, 2009 4:16am Mar 9, 2009 4:16am
Quoting blanca
It seems right now eurusd is having a short signal, but could you please confirm , the stoch has to agree in entry exactly or just under -100 level?
This was a nice entry
Attached Image (click to enlarge)
Click to Enlarge Name: ff.gif Size: 52 KB
Trading S/R with PA only. No indicators anymore!
  • #1,697
  • Mar 9, 2009 4:36am Mar 9, 2009 4:36am
another short eurusd?
  • #1,698
  • Mar 9, 2009 4:47am Mar 9, 2009 4:47am
Quoting Jazz1964
This was a nice entry
can u post u r indy and templet?
  • #1,699
  • Mar 9, 2009 5:01am Mar 9, 2009 5:01am
Quoting Superscalper
can u post u r indy and templet?
All credits go to John Edwards. It's his template which you can find in this thread, starting at page 100 and it is updated a few times after that page 100. You better read everything starting from page 100. But according to the original system, you also should know about that. It's in post 1 from FXtRading24 who started this good thread.

The only difference in my template is that I have another pivot/fibo indicator, which you can find attached. I use a different background colour because I have black pivot lines.
Attached File(s)
File Type: ex4 SDX-TzPivots2b.ex4   15 KB | 512 downloads
Trading S/R with PA only. No indicators anymore!
  • #1,700
  • Mar 9, 2009 6:17am Mar 9, 2009 6:17am
hi, i read pag 100 and 101, but not solution about this indicator,
who person know the setup about this indicator?
thanks
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